European Stocks Extend Gains
European stocks closed sharply higher for a second session on Thursday with continued support from its main sectors as amid optimism that tariffs from the United States will remain below the levels that were previously threatened.
The STOXX 50 gained 0.9% to 5,437 and the STOXX 600 added 0.5% to 553. The EU Commission noted it is likely to finalize parts of the trade agreements with the US, holding tariffs on most goods at 15% instead of the steeper threats by US President Trump. Allianz gained over 2%, tracking the strong performances for insurers and reinsurers after Swiss Re delivered better-than-expected results in the first half. Lenders also extended their recent upswing with BBVA and Nordea adding 2% and 2.5%, respectively.
Meanwhile, Airbus and Schneider Electric jumped around 2% each to extend gains for industrials, resilient to the contraction in Euro Area industrial production. Meanwhile, Adyen and ThyssenKrupp lost around 5% each after delivering pessimistic results.
Source: Trading Economics
